Well, if you're a fashionable guy then you're probably already eyeing nerd pants like these (above). They're the latest thing. They show lots of ankle and a have high waists that wrap around the bottom of the ribcage.
Hey, it beats the old fashion look that it's replacing. I was never a fan of baggy shorts (above).
Let me digress to remark that you never see stovepipe shorts (above) on the street anymore. Stovepipes were always worn with black socks and a nose ring.
Of course the recent guy fashion that you see on the street every day is the skin-tight neo-emo jeans. The picture above is the girl equivalent of that. It's all over the place now but the high waist-nerd look will probably replace it in a few years. Tight jeans are just too hard to put on.
The big news in women's fashion is the replacement of high heels with ultra high heels (above).
The newest shoes are thick and high, and are usually black. I saw women wearing shoes similar to these (above) at the mall today.